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rich, you've been all over ben bernanke's defense of qe3. i thought he had a lot of interesting things to say. break it down for us. >> reporter: really a point-by-point defense of all the criticism he's been getting over the years on quantitative easing and now the expansion of that, talking about some criticism that low borrowing cost is encouraging the federal government to borrow and spend more money. he says, look, that's all set by congress and the administration, has nothing to do with us. he also talks about people who try to save money, put money in cds or bank accounts. he said overall for the economy savers will benefit by qe2, by qe3 because the economy overall will be better. he says he's not monetizing the debt. he says the fed will unwind all of this when it comes time, and he says he expects this type of monetary policy will be in place for a considerable amount of time after the economy strengthens. he also addressed a question posed to him by the fox business network asking whether or not the united states is currently in a
rich, you've been all over ben bernanke's defense of qe3. i thought he had a lot of interesting things to say. break it down for us. >> reporter: really a point-by-point defense of all the criticism he's been getting over the years on quantitative easing and now the expansion of that, talking about some criticism that low borrowing cost is encouraging the federal government to borrow and spend more money. he says, look, that's all set by congress and the administration, has nothing to do...
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and federal reserve chairman ben bernanke defended fed's policies for the first time since launching qe3, saying that fed needs to drive down borrowing costs because the economy is not growing fast enough to reduce high unemployment. surely there is a left in which employment can be created. >> there will belay offs at lockheed-martin in the beginning of the year, but they will not warn the employees of impeding li offs as it is legally retired to today, obama labor department told lockheed they do not need to abide by the law. telling lockheed it will cover potential legal costs if they incur any benpality, obama administration. clearly does not want those layoff notices delivered just days before the election. >> president obama downplaying expectations for wednesday's debate. saying he is an okay debater, according to a new washington post abc news poll, 55 percent of likely voters think that president will win this first debate, and 41% think that romney will win. joining me now, ed klein, author of "new york times" best seller "the amateur." great to see you, this is cute, the d
and federal reserve chairman ben bernanke defended fed's policies for the first time since launching qe3, saying that fed needs to drive down borrowing costs because the economy is not growing fast enough to reduce high unemployment. surely there is a left in which employment can be created. >> there will belay offs at lockheed-martin in the beginning of the year, but they will not warn the employees of impeding li offs as it is legally retired to today, obama labor department told...
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ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental of individual stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that everybody can understand. anyone who's been to a museum or taken an art class knows that for years artists tried to paint pictures as if they were perfectly -- let's say they tried to capture the exact look. like a kodak camera. okay? that's called realism as the painters are indeed realistic. but as art progressed in the late 19th and early 20th century, you tend to get more -- let's say impressionist, less realist and then ultimately expressionists as the artists struggled to get beyond the four walls of the canvas, they took impressionism to the logical conclusion, coming up with sp
ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental of individual stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it...
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in defense of fed's latest easing, big ben bernanke making his case in moments. rich edson is standing by live in indianapolis. >> and bacon prices sizzling higher but new doubts over whether there's actually going to be a global shortage. first let's take a look at some of today's s&p winners and losers. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of dollars in out-of-pocket costs. call today to request a free decision guide to help you better understand what medicare is all about. and which aarp medicare supplement plan works best for you. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a
in defense of fed's latest easing, big ben bernanke making his case in moments. rich edson is standing by live in indianapolis. >> and bacon prices sizzling higher but new doubts over whether there's actually going to be a global shortage. first let's take a look at some of today's s&p winners and losers. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an...
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the fed chairman, which someone might have a chance to replace ben bernanke with next year, the national economic council director, which is basically the white house chief economic adviser and wildcard, wildcard would cob office of management and budget exchief of staff or favorite idea is budget czar, mr. mayor, michael bloomberg, who scored high on that. so you can -- >> all three of ours, former bosses, by the way, michael bloomberg was at once all three of our bosses. >> exactly. maybe we are bias. >> clearly hires good people and intensely qualified. >> he knows exactly how to gem gate. the basic idea, you get to delegate, choose the economic team and you can mix and match. you can say, okay, romney wins, put erskine boles in, scores very high on our model, as treasury secretary or budget czar, something like that or if you're president in a 2.0, say i want meg whitman to be in a tie. >> how did you pick the names? i played your little game aged lost. no winner. >> you choose one. >> i had 66 on dems, 65 so actually i went to the blue side, randomly. >> look at you, you democrat yo
the fed chairman, which someone might have a chance to replace ben bernanke with next year, the national economic council director, which is basically the white house chief economic adviser and wildcard, wildcard would cob office of management and budget exchief of staff or favorite idea is budget czar, mr. mayor, michael bloomberg, who scored high on that. so you can -- >> all three of ours, former bosses, by the way, michael bloomberg was at once all three of our bosses. >>...
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but i don't think anyone should be critical of ben bernanke's performance. i can't think of anybody who has physically done more for the country. i mean, those were 18, 20, 21-hour days. the guy has made a tremendous sacrifice on his family, on himself personally, and i do think it's important that for the country to grow up about this, it's fine to disagree about the policy, but he takes personal attacks from both the right and left, and i think they're totally unjustified. and i think we should actually, you know, pay him a tribute. i think he's making a great sacrifice and we need to salute him and people like him. >> you know, i think i'd agree with that. >> i totally agree with that. i give president bush credit for appointing chairman bernanke, and i give president obama tremendous credit for reappointing him. again, just like larry said, people can agree or disagree, you know, chairman bernanke is doing unprecedented creative policy. he's not somebody who is saying, well, the world is bad and it's out of my hands, he's saying i'm going to do everythin
but i don't think anyone should be critical of ben bernanke's performance. i can't think of anybody who has physically done more for the country. i mean, those were 18, 20, 21-hour days. the guy has made a tremendous sacrifice on his family, on himself personally, and i do think it's important that for the country to grow up about this, it's fine to disagree about the policy, but he takes personal attacks from both the right and left, and i think they're totally unjustified. and i think we...